Cognex Co. (NASDAQ:CGNX) Receives $49.62 Average PT from Analysts

Cognex Co. (NASDAQ:CGNX) has been assigned a consensus rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $49.62.

A number of research analysts have weighed in on CGNX shares. Vertical Research started coverage on shares of Cognex in a research report on Tuesday, July 23rd. They set a “buy” rating and a $58.00 target price for the company. Truist Financial dropped their price objective on shares of Cognex from $55.00 to $46.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. DA Davidson dropped their price objective on shares of Cognex from $41.00 to $39.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Robert W. Baird dropped their price objective on shares of Cognex from $46.00 to $42.00 and set a “neutral” rating on the stock in a report on Monday, August 5th. Finally, StockNews.com upgraded shares of Cognex from a “sell” rating to a “hold” rating in a report on Friday, August 9th.

Insider Buying and Selling at Cognex

In other news, CFO Dennis Fehr purchased 6,570 shares of Cognex stock in a transaction on Wednesday, September 4th. The shares were purchased at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the completion of the transaction, the chief financial officer now directly owns 6,570 shares in the company, valued at $249,922.80. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CFO Dennis Fehr bought 6,570 shares of Cognex stock in a transaction dated Wednesday, September 4th. The shares were bought at an average cost of $38.04 per share, for a total transaction of $249,922.80. Following the completion of the transaction, the chief financial officer now owns 6,570 shares of the company’s stock, valued at $249,922.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dianne M. Parrotte bought 2,000 shares of Cognex stock in a transaction dated Wednesday, August 7th. The shares were bought at an average price of $38.62 per share, for a total transaction of $77,240.00. Following the completion of the transaction, the director now directly owns 11,340 shares of the company’s stock, valued at approximately $437,950.80. The disclosure for this purchase can be found here. Company insiders own 1.10% of the company’s stock.

Hedge Funds Weigh In On Cognex

Large investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV lifted its position in shares of Cognex by 94.4% during the first quarter. Massmutual Trust Co. FSB ADV now owns 589 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 286 shares in the last quarter. Rise Advisors LLC lifted its holdings in Cognex by 1,239.7% in the first quarter. Rise Advisors LLC now owns 777 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 719 shares during the period. BI Asset Management Fondsmaeglerselskab A S lifted its holdings in Cognex by 303.1% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 770 shares of the scientific and technical instruments company’s stock valued at $33,000 after buying an additional 579 shares during the period. GAMMA Investing LLC lifted its holdings in Cognex by 276.1% in the second quarter. GAMMA Investing LLC now owns 1,087 shares of the scientific and technical instruments company’s stock valued at $51,000 after buying an additional 798 shares during the period. Finally, Point72 Hong Kong Ltd acquired a new position in Cognex in the second quarter valued at approximately $55,000. 88.12% of the stock is currently owned by institutional investors and hedge funds.

Cognex Trading Down 1.6 %

CGNX stock opened at $39.19 on Tuesday. The firm has a market cap of $6.73 billion, a PE ratio of 67.57 and a beta of 1.41. Cognex has a 1 year low of $34.28 and a 1 year high of $53.13. The company has a fifty day simple moving average of $40.07 and a 200 day simple moving average of $43.18.

Cognex (NASDAQ:CGNX) last released its earnings results on Wednesday, July 31st. The scientific and technical instruments company reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.03. The firm had revenue of $239.00 million during the quarter, compared to analyst estimates of $240.33 million. Cognex had a net margin of 9.29% and a return on equity of 4.97%. The business’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS. As a group, analysts forecast that Cognex will post 0.44 EPS for the current fiscal year.

Cognex Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a $0.075 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.30 dividend on an annualized basis and a yield of 0.77%. Cognex’s dividend payout ratio (DPR) is presently 51.72%.

Cognex Company Profile

Cognex Corporation provides machine vision products that capture and analyze visual information to automate manufacturing and distribution tasks worldwide. Its machine vision products are used to automate the manufacturing and tracking of discrete items, including mobile phones, electric vehicle batteries, and e-commerce packages by locating, identifying, inspecting, and measuring them during the manufacturing or distribution process.